Investor Alert: Isle of Capri Casinos (NASDAQ:ISLE) under Investigation over possible Violations of Securities Laws
Filed Under: Business, Financial Markets | Posted: 07/22/2014 at 12:44PM
Comments | Region: California | United States
The Shareholders Foundation announces that an investigation on behalf of investors of Isle of Capri Casinos (NASDAQ:ISLE) shares was launched over potential securities laws violations by Isle of Capri Casinos and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of Isle of Capri Casinos (NASDAQ:ISLE) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Isle of Capri Casinos (NASDAQ:ISLE) concerning whether a series of statements by Isle of Capri Casinos regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
In June 2014 it was reported that Isle of Capri Casinos unveiled its new land-baes casino plan. Isle of Capri Casinos reportedly sought to move of its Bettendorf’s Isle of Capri Casino from its riverboat to a land-based site. In June Isle of Capri Casinos also announces its fiscal 2014 fourth quarter and year results. Isle of Capri Casinos reported that its Total Revenue rose from $923.40 million for the 12 months period that ended on April 28, 2013 to $954.60 million for the 12 months period that ended on April 27, 2014 and that its respective Net Loss increased from $47.57 million to $127.69 million. In early July a research note was published that speculated that Isle of Capri Casinos may be a takeover target. Shares of Isle of Capri Casinos (NASDAQ:ISLE) rose from $6.66 per share in early June 2014 to as high as $10.73 per share on July 7, 2014.
Then on July 10, 2014, Isle of Capri Casinos announces a change in its management. Isle of Capri Casinos said that the position of Executive Chairman of the Board of Directors, currently held by Jim Perry, has been eliminated and that the position of Chief Strategic Officer, currently held by Eric Hausler, has been eliminated and Mr. Hausler has been named the Company’s Chief Financial Officer.
Shares of Isle of Capri Casinos (NASDAQ:ISLE) dropped from as high as $10.21 per share on July 10, 2014 to as low as $8.50 per share on July 11, 2014 and declined to as low as $8.18 per share during July 21, 2014.
On July 21, 2014, NASDAQ:ISLE shares closed at $8.27 per share.
Those who purchased shares of Isle of Capri Casinos have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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